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Freehold warns packagers to group together

Freehold, the packaging association, launches its proposition to regional packagers on October 12 with 20 packagers having accepted invitations to attend the inaugural meeting at SPMLs offices in London.

Paul Brett, spokesman for Freehold, says: “As we predicted earlier in the year, the changes to the market since regulation have meant that regional packagers acting on their own are at an increasing disadvantage to their larger competitors.

“The new regulatory framework has meant that smaller packagers have lost out to larger competitors who have been able to get onto the panels of the new mortgage networks for appointed representatives.

“Equally, lenders have been more reluctant to deal with smaller packagers post regulation after concerns over their regulatory status and larger packagers have been able to command enhanced products and procuration fees. “

Brett warns packagers to sit up and smell the flowers. He adds: “Packagers must join together in order to access better products and services for their clients.

“We must also be able to respond effectively to the challenges that the new regulatory regime has placed on the market.

“Through Freehold, packagers have a chance to operate on a level playing field with larger competitors without losing their independence.”


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Halifax reveals 1.2% rise in house prices

Figures from the Halifax House Price Index show house prices increased by 1.2% in September, and 1.8% in Q3. The annual rate of house price inflation, at 3.0%, is significantly lower than the 20.5% recorded in 2004 Q3. The latest Bank of England figures show the number of mortgage approvals to fund house purchase increased […]

B2L deals

Coventry is launching three buy-to-let mortgage products and changing its B2L policy to make it easier for introducers to access products.

Coventry improves FTB product range

Coventry is improving its range of products for first-time buyers.The societys MOREgage product is a combined mortgage and unsecured personal loan that gives first-time buyers and movers the ability to not only purchase their house, but also the capacity to cover additional associated costs. With a high average house price making it increasingly difficult for […]

Europe: Nursery slopes

After a flat year for European equities, in which the Artemis European Growth Fund outperformed, manager Philip Wolstencroft is (cautiously) optimistic about 2016.


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